Michigan State University's College of Law has a new Chair in Business Law, funded by a $4 million grant from the school’s president and his wife. The Clifton E. Haley Chair in Business Law is one of two new positions funded by the gift. The Chair, says the school, “will provide a stipend and additional program funds for the professors chosen for the distinction.” The gift will, in addition, “establish two endowed scholarships for entering students with exceptional academic credentials.”

Haley is a 1961 graduate of MSU (when it was Detroit College of Law), and is the former chairman of the board of Budget Rent-a-Car. He’s served as the law school’s president since 2001.